Comments on: Why Is My Paycheck More?

By: cleo

cleo — Tue, 19 May 2009 14:58:25 +0000

I have tried a slew of online calculators to determine if and how I should adjust my withholding in response to this credit. I can’t seem to get the same answer from one to the other – they all seem to ask for different input or it is not clear exactly what I need to be providing. Help! Know of a good withholding calculator? Thanks!

By: Frank

Frank — Thu, 02 Apr 2009 13:23:49 +0000

I don’t think there really is a way for you to not have the credit inserted into your check. But if you would rather have it at tax time next year, save it.

By: KATHI

KATHI — Wed, 01 Apr 2009 20:14:56 +0000

WHAT IF YOU CHOOSE NOT TO HAVE THE EXTRA MONEY PUT INTO YOUR CHECK, WOULD THAT GIVE YOU MORE AT INCOME TAX TIME?

By: Erica

Erica — Thu, 26 Mar 2009 19:08:58 +0000

Thanks for the help I thought i had gotten a raise when my direct dep. showed up… yeah thats a laugh!! Thanks for clearing things up for me!

By: Frank

Frank — Wed, 25 Mar 2009 03:04:51 +0000

You won’t have to pay income taxes on the extra amount put in your check each pay period because it’s a credit.

By: Jodi

Jodi — Wed, 25 Mar 2009 00:01:55 +0000

So I am still a little sketchy…if we do not change any allowances, and given the tax break which is putting about $30 in our paycheck, will we be paying in come income tax filing time…or will we still get back the same amount we usually do…given the added income?

By: Luke

Luke — Fri, 20 Mar 2009 12:00:09 +0000

If you are getting 31 more dollars a check even with bi-weekly pay periods that equals about $806.00. If single people only get $400 does that mean you will owe at the end of the year? Any insights would be appreicated becuase my check and my wifes check put together are about $2000 more on our checks per year. Any insights would be greatly appreciated. Thanks

By: frugal living

frugal living — Fri, 20 Mar 2009 10:59:34 +0000

Yes it does mean you take home more. Whatever extra you get in your paycheck is taken from your refund – it’s the same money, the only change is when you get it. If you take too many allowances, then you have to pay when you file instead of getting a refund.

By: Upstate Rob

Upstate Rob — Fri, 13 Mar 2009 12:54:49 +0000

Excellent explanation! This is the kind of tax cut people can use. Finally, a gov’t that cares. Remember: while inflation is bad, deflation is worse because it attacks some unfairly and leaves others alone while inflation hurts all equally and is therefore not that destructive in the long run (if not too severe).

By: Dawn

Dawn — Thu, 12 Mar 2009 14:43:53 +0000

Thanks for the great information! This was really helpful!

By: GrantS

GrantS — Thu, 12 Mar 2009 12:09:13 +0000

Nice post. There is clearly some different prospective here.